Core Materials Market - Comprehensive Analysis, Perspective and Forecast
Progressive Markets added a report, “Core Materials Market - Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025” which says that the core materials market is growing at a significant CAGR in the recent years.
Characterized by low strength and high thickness, core materials provide a sandwich composite with great bending stiffness with overall low density. The sandwich composite typically constitutes three layers namely the face skin laminate, the core material, and the back-skin laminate. The core material increases the section modulus, thereby lending stiffness and strength to the sandwich composite. Numerous core materials are available in the market such as polyurethane foam, polyvinyl chloride (PVC) foam, polymethacrylimide (PMI), polystyrene foams, honeycomb core, wood core, non-woven core fabrics, balsa, syntactic foams, and others. Owing to their excellent physical properties and resistance to high temperature and moisture, core materials find application in numerous industries.
In the type market category, the foam segment is likely to witness the fastest growth due to its toughness, elongation properties, greater heat and moisture resistance, and the ability to keep the composite structure lightweight. Foam as a core material is used in the marine, surface transport, wind energy, and aerospace industries.
Market Drivers and Restraints
The core materials market is growing at a significant pace owing to growth in the wind energy industry, growing usage of core materials in the aerospace and space industries, and an increase in investments in the marine industry. However, delay and uncertainty in the renewal of production tax credit (PTC) and highly capital-intensive market limit the growth of the market.
China, India, Indonesia, and other Asian countries are coming up as major wind turbine manufacturers that drive the demand of foam core. The honeycomb core material market is mainly driven by the rise in the production of aircraft and growth in the space industry. According to the Boeing Company and Airbus Group, it is estimated that 1,686 units of aircraft will be delivered worldwide by 2025, which is expected to drive the market growth.
Core Materials Market Key Segmentation:
The report classifies the core materials market by type, end-use industry, and geography. By product type, the core materials market is classified into foam, honeycomb, balsa, and others. By end-use industry, the market is fragmented into aerospace, wind energy, marine, transportation, construction, and others. Based on geography, the report analyzes the global core materials industry across regions such as Europe, North America, Asia-Pacific, and LAMEA. In Europe, the core materials market covers the regions such as UK, Germany, France, Spain, Italy, and the rest of Europe. In North America, the market covers regions such as the U.S., Canada, and Mexico. In Asia-Pacific, the market covers the regions such as Australia, Japan, South Korea, India, China, and the other parts of Asia-Pacific. In LAMEA, the market covers regions such as South Africa, Brazil, Saudi Arabia, and the other parts of LAMEA.
By End-use Industry
- Wind Energy
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
The players operating in the global core materials adopt several marketing strategies to sustain in the market. The key market players include Diab Group (Ratos), Industries AG, Gurit Holding AG, 3A Composites, Hexcel Corporation, Armacell International S.A., Changzhou Tiansheng New Materials Co. Ltd, The Gill Corporation, Euro-Composites S.A., and Plascore Incorporated.
The report is an in-depth study and analysis of the core materials market and includes insights from industry experts. The information in the report is a result of an extensive research and core materials market survey. The vast amount of information in the core materials industry report includes core materials market size, core materials market share analysis (2014-2025), market overview, market growth drivers, factors limiting market growth, definitions and scope, current market trends, core materials market forecast for upcoming years, industry classifications, Porter’s Five Forces Analysis, information about market players, among others. The report covers a detailed analysis of qualitative as well as quantitative aspects of the market to help industry players and investors gain deeper insights on the market and industry performance. To understand the competitive structure of the market, an analysis of Porter's five forces model for the core materials market has been provided in the report. The report is a useful resource for new entrants, players, and investors as it helps them focus on specific areas of growth, identify their own needs and adopt suitable growth strategies to attain long-term success.